The answer to that question may seem obvious to many. After all, the difference in the prices between ordinary bikes and electric bikes comes down to how the latter are built and what purpose they serve.
Electric bikes have electronic components, like a battery, a battery charger, and a motor, all of which raise the cost of e-bikes. So, why are electric bikes so expensive, and what exactly are you paying for? We've got the answers for you in this article.
Electric Bikes Cost - What It Includes?
Anyone who dives deeper into the world of e-bikes will quickly find out that you have to spend more to purchase and maintain an electric bike than you would have to with a traditional bike. This, of course, is not surprising when we consider how an e-bike is built and the prices of different e-bike components that are incorporated in the end price people pay for electric bikes.
What are those components?
The E-bike Battery
While in your traditional bike, the only required batteries are your legs, you’ll need an actual battery to put an e-bike in motion. This piece of equipment powers the bike's motor, allowing you to ride on various terrains easily and without breaking a sweat.
But in many cases, e-bike batteries are also one of the most expensive components an electric bicycle can have. Electric bike batteries cost $500, with the more premium ones reaching the price of $1,000.
Most electric bikes utilize lithium-ion batteries that offer a typical lifespan of 2-4 years. It's a rather important investment because the quality of the battery will determine how far and how long you'll be able to ride on your bike. It'll also minimize the need for battery replacement to the minimum.
Another crucial piece of equipment in an e-bike is the motor. The least you will need to pay for an electric bike motor is a few hundred dollars. Of course, the price will be determined by the quality of the product.
Higher efficiency and better ride quality will bring the price of an e-bike motor up. Generally speaking, mid-drive motors are more expensive than, for example, hub motors, offering a superior experience for the biker.
The considerable price of e-bike motors is often the result of the fact that this piece has to be specially crafted and fitted, which translates to higher labor costs and the price tag on electric bicycles.
A premium electric bike can weigh more than double the weight of a traditional bike. This is because the frame of an e-bike has to support the rider and the additional equipment like the motor and the battery.
With electric bikes, the goal is to keep their weight as light as possible for the sake of ride quality and battery and motor efficiency. But lighter frames come with a significant price tag, mostly due to the fact that they are made from more expensive materials.
Higher Quality Components
Apart from these three main costly e-bike equipment pieces, there is a list of other components that are more expensive in an electric bicycle compared to traditional bikes. A good example are brakes, which need to be able to stop a moving e-bike, despite the additional weight of other e-bike equipment.
High-quality parts are used in the production of electric bikes to ensure the utmost safety of bikers. This, however, results in higher prices for these bikes.
Buyers also have to add the maintenance costs on top of what they’re paying for an electric bike at the store. These would be:
Charging the battery - this isn't a substantial cost, mostly limited to a few dollars per charging session, nevertheless, it is an ongoing cost that you need to take into account, especially with today’s rising energy costs.
Battery replacement – replacing the battery costs around $500 to $1000. With a high-quality battery, you won't have to pay for the replacement for up to 4 years, depending on how often you use your bike.
General maintenance - these costs will vary depending on what maintenance your bike needs.
Will Electric Bikes Be Cheaper In the Near Future?
Like with most new technology, electric bikes are quite expensive now. But this doesn't mean such a state of affairs will prevail. On average, electric bikes cost around $700 to $2000, which might be a lot for a bike, but it is still a more affordable and environment-friendly option than purchasing a scooter or a car.
For the time being, the high price tag of electric bikes depends on several factors. For one, we have expensive materials and equipment that are used in their production. Premium electric bikes often require higher-quality components to offer lighter weight, great efficiency, and a superior riding experience.
Secondly, though, electric bikes are not overly popular yet, which also contributes to the higher price. The good news is that conventional bikes are slowly gaining more popularity in bigger cities, and this is reflected in the increasing popularity of e-bikes in urban spaces as well.
Cities like New York, for example, are reporting a considerable influx of e-bike users. More and more people are giving e-bikes a chance, either due to environmental reasons or for the fun aspect of it all.
Considering these changes, we can safely assume that electric bike prices will decrease in the near future.
As we hopefully showcased in this article, the higher price of electric bikes is entirely justifiable. All the costs associated with production and materials used to make these bikes are simply higher than when it comes to a traditional bicycle.
For that, you get a bike that will take you up any hill and make commuting to work or school more fun and sweat-free. Although the electric bike is an investment, the comfort of a ride is well worth it.
If you're interested in buying an e-bike, you should definitely browse our offer. At Fiido, you'll find quality electric bikes in many different styles and price points, so you can choose the best bike for your needs and wallet.